|
|
Get your south carolina real estate questions answered by our expert
instructors. Feel free to ask any sc
real estate,
property management, or
appraisals. Our expert instructors will be glad to post
your questions with a response so that everyone can benifit. We feel that
participation is essential in any type of education especially real estate.
Anyone is welcome to post a question. We look forward to questions and to
seeing you in class.
Submit Your Questions!
Administrative duties/Pay under a licensed builder
Asked By: Sheridan from Greenville
I have a real estate license , but they are on on inactive status. I work for a licensed builder as an administrative assistant in the office. They are wanting me to expand my job duties to include assisting at open houses by being present to answer any questions they may have, unlocking a home for someone to go through, maybe giving them some information about the home / subdivision in a packet form, etc... No negotiating or anything of that matter. Someone told me that there was a fine line with showing the house/being at the open house, giving any prices, etc..so I wanted to double check to make sure this wasn t anything that would be against any laws. Also, they pay me an hourly wage for being in the office, however, they were wanting to pay me a bonus in addition to my hourly wage, for each closing, if I did decide to expand my job duties, as mentioned before. The bonus would be along with my bi-weekly paycheck included in the total amount of my hourly gross, with taxes taken out, again paid by the builder/owner. I wasn t sure if this was legal either. Please advise me as to how I can help them out and maybe get additional pay for the additional work, without being illegal. Thank you in advance for you help.
Real Estate Expert Answer
Answered By: Frankie
Per the South Carolina license law, 40-57-135(G), only licensed real estate agents can legally show property and conduct/host open houses. Anyone showing real estate or hosting an open house for the sale of real estate should expect to be asked questions concerning the property. Many answers provided can be considered professional services. Before professional services can be offered, their must be an agency relationship between the Company and the Client. Without a written agency relationship, these services should not be afforded to customers. The SC Agency Laws also require that agency be explained to buyers and sellers of real estate at first substantial contact or practical opportunity. Again, only licensed agents can explain agency to customers. As far as payment of bonuses, that if fine as long as you are being paid as either an employee or independent contractor. Cannot be paid as both! If you are a employee, the bonus must have taxes taken out prior to paying the bonus.
Real Estate Property Management or Real Estate Company
Asked By: John from Columbia
Do you have to be a licensed Realtor in to owner your own property management or real estate company? This would include you owning the property you would be managing.
Real Estate Expert Answer
Answered By: Stacey
You do not have to be a licensed real estate agent to own a property management or a real estate company. However, if the property management company or real estate company will be managing and/or collecting fees for property management and real estate services provided to anyone other than yourself, then you must be a licensed property manager-in-charge or a broker-in-charge. South Carolina License law requires anyone providing any real estate services to others for a fee, must be licensed. If the company is collecting fees for any real estate services provided for others, then it must be managed by a broker-in-charge or a property manager-in-charge. It does not matter if the owner is licensed unless the owner is the one managing the real estate services. In that case, the owner must be licensed. If the company is only managing property belonging to the company/owner, you do not have to have a license. In short, anytime one collects a fee from another for property management or other real estate services, the one collecting the fees and providing the services must be licensed in the state of South Carolina.
|
|
|